Racine at a glance
- Population: about 671 residents, ranking 606th of 924 Census places in Ohio (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 686 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a decline of roughly 2.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Ohio places: 606th largest of 924 (US Census Bureau).
- Size percentile: it is larger than about 34% of the places in Ohio (US Census Bureau).
- Coordinates: 38.9684 latitude, -81.9106 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): New Haven, WV (3 mi); Syracuse, OH (4 mi); Mason, WV (7 mi); Pomeroy, OH (8 mi); Ravenswood, WV (8 mi) (US Census Bureau).
- Nearest smaller places: Hartford City, WV (5 mi); Cheshire, OH (11 mi); Rutland, OH (13 mi) (US Census Bureau estimates).
What a personal loan costs in Racine
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Ohio lending rules that apply in Racine
The table carries the Ohio rate and licensing rules that apply to consumer loans made in Racine.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal for licensed short-term lenders; interest capped at 28% per annum; total fees and charges capped at 60% of the originally contracted loan amount. Source says: "(A) Interest not exceeding a rate of twenty-eight per cent per annum" (Ohio Rev. Code 1321.40); total fees/charges capped at "a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount" (1321.403). | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance licenses required for non-depository lenders, including Consumer Installment Loan Act lenders, General Loan Law lenders, short-term lenders, and small loan lenders. Source says: "We issue and manage licenses for companies and individuals under multiple Ohio statutes." (page's regulated-statutes list names Consumer Installment Loan Act lenders, General Loan Law lenders, Short-term lenders, Small loan lenders). | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| State lending regulator | Ohio Department of Commerce, Division of Financial Institutions (Consumer Finance Section). Source says: "The Consumer Finance Section is responsible for regulating non-depository consumer lenders and related consumer finance businesses." | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 8% per annum maximum by written agreement for the general case; higher rates permitted only in specified cases (e.g., principal over $100,000, business loans, certain mortgages). Source says: "may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually" (Ohio Rev. Code 1343.01(A)). [codes.ohio.gov content retrieved via search-engine fetch of the official section; direct connections blocked from our network] | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
How to compare offers in Racine
A few practical steps will make the process in Racine less costly:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.